Saudi Arabia dominates Mena public listings in Q1

Saudi Arabia dominates Mena public listings in Q1

Saudi Arabia dominated public listings in the region in the first quarter of the year and maintains a “healthy pipeline” of IPOs for the remainder of 2024. Nine companies were brought to market in Saudi Arabia during the opening three months, according to the latest report from global consultants EY. The kingdom’s largest, and the […]

Nine Saudi companies listed

Modern Mills Company tops IPOs

‘Healthy pipeline’, says Saudi Exchange

Saudi Arabia dominated public listings in the region in the first quarter of the year and maintains a “healthy pipeline” of IPOs for the remainder of 2024.

Nine companies were brought to market in Saudi Arabia during the opening three months, according to the latest report from global consultants EY.

The kingdom’s largest, and the region’s second-largest, IPO was raised by Modern Mills Company at $724 million, accounting for more than 27 percent of the overall proceeds.

This was followed by MBC Group ($222 million) and Middle East Pharmaceutical Industries Company ($131 million). 

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All three IPOs were listed on the Tadawul main market. The remaining six listings took place on the Nomu, the parallel market, with total proceeds of $57 million.

In total, 21 IPOs from